Comments on Mind Boggling Foreclosures

Go to Walking the Millionaire's Path - Add a comment - Go to Mind Boggling Foreclosures

Here's an article that will ...

interest and amuse you.

http://articles.moneycentral.msn.com/Banking/HomeFinancing/CountrywideTheMortgageMessAndYou.aspx

I particularly like the last paragraph. "Don't be fearful. Be watchful."

Damn, I'm scared and I don't even have a loan through Countrywide.

Oh, and the bit in there about moving up your pending Countrywide loan closing so you can get it done before the company crashes and burns -- that's priceless.

posted by editormum on August 20, 2007 at 9:49 AM | link to this | reply

Stockton has problems

http://money.cnn.com/2007/08/14/real_estate/California_cities_lead_foreclosure/index.htm

Check out city_data.com as well for annual income versus median home price, education level, etc.

 

I live thirty miles north of Stockton. They have gang problems, educational problems, crime problems. They have sometimes led the nation in car thefts. I don't know where their real major employers are besides the dwindling port (yes, the Sacrfamento River is navigable to some oceangoing ships as far as Sacramento, past Stockton), but there is loads of low-income housing, and payday check cashing establishments are like mistletoe in the Valley Ash trees, everywhere.

Sacto isn't a great place, but Stockton's a click below that.

 

posted by majroj on August 18, 2007 at 9:09 PM | link to this | reply

Funny, but...

I just commented on this very topic in one of my blogs. If someone walked into a realtor's office offering cash on the barrelhead for a house, I bet the realtor would be shocked out of his or her skull. Nobody thinks in terms of buying a house outright, without first getting a mortgage to pay for the house.

posted by kidnykid on August 18, 2007 at 8:39 AM | link to this | reply

Thanks Ariala!

I think there's only so far that the quick fixes can take us.

posted by SuccessWarrior on August 17, 2007 at 10:04 AM | link to this | reply

Excellent article...I don't understand it either, but I've written and

reported on similar topics...it's all market manipulation

posted by Ariala on August 17, 2007 at 9:45 AM | link to this | reply